I've bought a Trek 750 I bought in '93 and still love it. Did 15 miles on it Saturday evening. Changed the shifters last year and just upgraded the rear derailleur from Altus to Alivio last week. Had a little trouble on that upgrade, I posted in the bike mechanics section, but lengthened my rear cable housing and it shifts great now. If it's in decent shape, should be a good buy. Price would depend on shape, my 750 was right at $500 ('93) new, the 720 was one step below it. Good luck

I had a 520 in the early 80's. Looking up some pics of the 720, it looks superior to the 520. I would consider it a touring bike, not a hybrid, but it sounds like it may suit what you are wanting.

I went to look at it at lunchtime, and didn't buy it. I'm under the impression that Trek recycles model numbers. The 720 started out as a touring bike, I've read, and it seems like it was a good one. Then the model number became their entry-level hybrid, lost the front rack mounts (and probably some other stuff), and was set up with cruiser bars and Altus components.

The one I saw fit me OK, but it was a "girls" frame, and though it was in ok shape, it had some issues. If it had been a GREAT deal, I might have gone for it. But as it was, it was an OK deal, which wasn't enough to tip me into buying a bike I didn't really want. If I had loved the frame, I might have considered buying and upgrading the components. But ... sigh.

The older chrome-moly 700 series were great bikes for general road/light touring and could easily be converted to cyclocross style trail bikes or hybridized into a fitness/commuter. I'm sorry to hear that the newer 720 does not follow suit.